These figures meet the company's strategic objectives in a particularly complex environment, as stated by Mikel Barandiaran, CEO of DOMINION, “The evolution of our results year after year is increasing, proving that DOMINION is a resilient and recurring company, which has managed to emerge stronger from complicated situations, thanks to our business model, our culture, and the excellent team that accompanies me."
Its president, Antón Pradera, has also added that “DOMINION is a company designed for the long term. We look for projects that we can be involved in for many years and we position ourselves in the three great transitions that the world is experiencing: industrial, energy and digital. To this end, we have carried out a divestment strategy that allows us to focus on sustainable activities with greater added value in the coming years.”
Mikel Barandiaran has also assured that these results “are not reflected in the share price” despite having the support of the analyst world who gives them an appreciation potential of more than 90%. “At the company we are constantly reflecting and evaluating alternatives and willing to make every effort to reverse the situation as soon as possible while we continue to fulfill our strategic plan,” he continued.
In 2023, the company presented its new plan in which it establishes an annual organic growth objective of 5% in sales, 7% in its EBITDA and 9% in the generation of Operating Cash until 2026.
Renewal of its Board of Directors and approval of the €15M dividend payout
During the meeting, Mikel Barandiaran was re-elected as executive director and Antón Pradera and Juan María Riberas as proprietary directors. The re-election of its directors Jose María Bergareche, Javier Domingo de Paz, Arantza Estefanía Larrañaga, Amaya Gorostiza Tellería, Juan Tomás Hernani Burzaco and Jorge Álvarez Aguirre as independent directors, and Jesús María Herrera Barandiaran as external director, has also been approved.
The dividend payout has also been approved, which this year will be €15 million, a third of the company’s net profit. During 2023, DOMINION has invested a total of €21M in remunerating its shareholders, including the dividend payout (€14.7M) and the repurchase and amortization of its own shares.
In 2024, they do not rule out starting new buyback programs, “we always say that, as long as the stock continues to trade in these ranges, we are our best investment,” Barandiaran concluded.
4.1 million shares to turn its directors into shareholders
At this Meeting the company has also announced the launch of a program to facilitate the entry of some of its executives into the company's capital. To implement this plan, the company has purchased more than 4 million shares in the last year and a half, which will be acquired by around 50 of its executives in the coming weeks.
DOMINION is thus committed to converting its “Top 50” into shareholders of the company with the aim of retaining its best talent and making them participate in the results and growth.
“At DOMINION we always talk about our 4Ds+1: Diversification, Decentralization, Digitalization, Financial Discipline and Sustainable Development. This operation responds to how we understand decentralization in this company, betting on a manager-entrepreneur profile, with autonomy to make decisions and responsible for their income statement,” says Mikel Barandiaran, CEO of DOMINION.
